Do very many people make buying decisions based only on price? 

Nope.  It’s the last on the list.

Top 5 Reasons People Buy:
43% buy because of confidence in the product or company
18% buy based on the quality of the product
14% buy because of the service they can get from the vendor
13% buy because they are offered a good selection
12% buy based on price
Now, total the first four numbers and you’ll see that 88% of people do NOT buy on price!